Wipros Digital Assets platform

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Accelerating the adoption of digital assets on blockchain

Anything that can be recorded in binary code and has an ownership is a digital asset. All transactions related to them, including their creation, destruction, changes in ownership, and other logic or future obligations are recorded on a blockchain that act as an immutable record of those assets.

Over the years, banking and financial services have come a long way in digitizing their operations and making payments more real time. However, some challenges still exist:

High cost of transactions
Limited transparency on fees/charges
Slow trade settlement cycles – typically 3 to 5 days
No real time visibility of transactions
Cumbersome correspondent banking model

Today, blockchain technology has emerged as a viable technology for enabling more efficient cross-organizational collaboration, eliminating intermediaries, and creating disruptive business models for financial services institutions – ultimately addressing longstanding challenges.

Wipro’s Digital Asset Platform is built for banking and financial services customers to help with their blockchain adoption. The platform meets institutional finance requirements including security, privacy, reliability, and performance standards.

Solutions under the platform

Payments – Blockchain-based payment solutions promise to facilitate fast, secure, low-cost payment processing services through the use of encrypted distributed ledgers, providing trusted real-time verification of transactions without the need for intermediaries such as correspondent banks and clearing houses. They enable a resilient financial market infrastructure for faster payments.
Central Bank Digital Currency – Central banks today acknowledge the advancement in digital payments and the growing threat that private money creation is to the financial stability of a country. Many central banks have come forward to explore central bank-backed digital currency, complementary to its own currency. Our solution establishes a real-time gross settlement system between a central bank and the member banks of a country for a cryptographically secure wholesale payments using digital currency.
Security Token Offering – Blockchain-based security token solutions are creating new markets for previously illiquid assets and reducing the risk and cost found in post-trade settlement systems. These tokens bring down the barriers to entry for retail investors and boost market efficiency by enabling end-to-end solutions that combine trading, settlement, and custody services into one seamless offering.

To schedule a workshop or demo for Wipro’s Digital Assets platform, please complete the form below, and we’ll contact you shortly.

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